3. Bank XYZ currently has $800 million in transaction deposits on its balance sheet. The Federal Reserve has currently set the reserve requirement at 10% of transaction deposits. a. Suppose the Federal Reserve decreases the reserve requirement to 6%. Show the balance sheet of Bank XYZ and the Federal Reserve System just before and after the full effect of the reserve requirement change. Assume Bank XYZ withdraws all excess reserves and gives out loans, and that borrowers eventually return all of these funds to Bank XYZ in the form of transaction deposits. (3 points) b. Redo part (a) using a 12% reserve requirement. (3 points)